Montage Technology set to price Hong Kong $902 million listing at top of range
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Montage Technology, a Chinese semiconductor designer, is set to price its Hong Kong listing at HK$106.89 per share, raising up to HK$7.04 billion ($902 million). The company plans to use the proceeds for R&D, strategic investments, and working capital. The offering has attracted 17 cornerstone investors, including JPMorgan and UBS. Shares are expected to debut on February 9, with pricing finalized by February 5. Montage, founded in 2004, focuses on integrated circuits for data movement in servers, amid China's push for domestic chip alternatives due to U.S. export restrictions.
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